SpaceX shares dropped 40% to $81, a steep decline from their initial listing price of $135. The stock briefly hit $225 before the sell-off. The company holds 18,712 Bitcoin on its balance sheet.
The price drop
Shares of SpaceX fell to $81, marking a 40% loss from the $135 listing price. The stock had earlier reached a high of $225 before reversing course. The company has not disclosed a reason for the decline. No official statement has been issued regarding the move.
Bitcoin treasury
SpaceX holds 18,712 BTC, a significant cryptocurrency position. At current prices, that stash is worth roughly $1.2 billion. The company's Bitcoin holdings have been a point of interest for investors, though it's unclear if the digital asset played any role in the share price drop.
What investors are watching
The sharp decline leaves SpaceX shares well below both the listing price and the recent peak. With no public explanation from the company, traders are left to speculate. The next earnings report or any corporate announcement could shed light on the situation. For now, the stock sits at $81, and the market waits.
